The one equity index which is probably watched very closely around the world is S&P 500. The S&P 500 has bounced off the 200-week moving average, which was 2,350.

We had another instance of the S&P 500 coming very close to the 200-weekly moving average, that was two years ago and from there the market has moved higher quite a bit. Let's see if there will be a repetition of the same but for now, it looks like, the worst is behind us.

Asian equities have done pretty well in Q4 of calendar 2018 when compared to the sell off seen in the US market.

India is an outlier. India is perhaps the only big global equity market apart from Brazil, which returned positive for 2018.

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First Published:Jan 2, 2019 1:15 PM IST